ND Crude Oil Price Recovers to Pre-Pandemic Level
During the first half of 2020, responses to COVID-19 pandemic led to declines in the demand for crude oil. West Texas Intermediate (WTI) crude oil traded at negative prices in April 2020 leading to an all-time low ND price of $9.54. During the second half of 2020, the demand for crude oil began to stablize resulting in increased WTI crude oil prices. The ND price has continued to rise since October 2020 and is estimated to rise to over $50 in February 2021.
Click here for a printable version of the revenues compared to the legislative forecast.
Click here for a printable version of the revenues compared to the previous biennium.
Comments or questions? Contact Joe Morrissette, Office of Management and Budget Director.
Credits:
Photos: ND Tourism